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their american citizenship so they do not have to pay any taxes in america. as far as these kids in sandy, my oldest daughter told me we are going to see lots more of these things unless kids are given a better future to hope for rather than being some rich person's slave. host: thank you for the call. guest: you are right. the rich, no matter what the tax level, they have a way of getting around their taxes. that goes back to the point i was saying. it is not about what level of rate we put taxes on individuals. we have to reduce spending them big she said obama has given in to republicans paying bank i am not sure what he has given in on. he has not been at the table and then he has been traveling all over the country promoting raising taxes on millionaires and billionaires and then doing their fair share. spending is causing this problem. spending levels and the debt is what is creating this poor economy and the recovery we have seen. obama's failed policies have created such a soft economy today. we have to start dealing with the spending the event we have to treat the problem. that is th
for sandy on the east pork inhere's a lot of that. call your delegates. my question to you, in regard to what i've heard on president obama in regard to social security is trying to incorporate changes cpi -- chained cpi. a person would pay $1,200 more in one year and over. 30 years, $28,000. could you go in depth on that for me? guest: there are different ways of computing the consumer price index. one of those is to change how much we saved for food and shelter and so forth for the proportions of the previous year as opposed to a base year. that gives you a somewhat lower rate of inflation. economists would argue that is more realistic and a fairer way to index and the government benefits. i have a problem with that. as an economist, i'm interested in perfection of measurement. as a guide u.s. to operate in washington, i am also concerned with equity. older folks really have a different basket of goods than and people. when was the last time grandma and grandpa went out and bought a suite of bedroom furniture. young folks do that. where is older folks spend much more in health care.
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